October Update Shows Growth in the Neo (NEO) Ecosystem

In October, NEO celebrated two years of its mainnet and the milestones it achieved during that period that has established it as one of the biggest and most promising cryptocurrencies.

While NEO’s performance over the last two years has won the hearts of many, it’s October progress report shows that the smart economy platform has not stopped working to better and grow its platform. Here are some of the highlights of NEO’s October report.

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NEO to Become More Decentralized in 2019

The latest update of NEO from the time of this writing also revealed the start-ups plan to become more decentralized come 2019. By 2019, the election process for electing consensus nodes in the NEO ecosystem would be fully democratic.

For a long time, NEO ecosystem was criticized for being too centralized has been moving slowly but steadily towards decentralization since the early parts of Q2, however, the Chinese Ethereum is now preparing to become a decentralized (although not fully) digital asset.

NEO’s Growing Community

Successful cryptocurrencies are those with an active and diverse community, and NEO is putting great effort into developing its community base outside China with structured events, meet-ups, and completions.

NEO revealed in its report that Keymakers (a NEO developer community-base in Japan) has been making advancements in educating the Japanese market on the technical document of NEO, which would subsequently open the door for NEO to enter into the market, and with ease too.

Similarly, AmazonNEO (a NEO developer community situated in Latin America) has been educating developers located in that region. To further widen its scope, NEO has been organizing meetups, competitions, greater social media presence, and conferences, to reach out to a wider audience.

Technical Development of NEO

Without a doubt, NEO ranks among the most active smart economy platforms, this in view, it is almost impossible to recount the technical developments of all the projects embedded into this fast-growing platform.

The technical highlights of NEO’s October report are the upgrade of the NEO MainNet and TestNet to Version 2.9 and the integration of the KPN as a consensus node on the NEO MainNet. The Dutch telecom service provider had announced in January that it plans to host a full NEO consensus node.

Market Performance of Neo (NEO)

November brought with it a wave of revival for the cryptocurrency market. As of this writing, the crypto market is in control of the bulls, with over 70% of the 3338 trading virtual currencies recording gains, including NEO.

NEO, the 15th most valuable cryptocurrency with a market capitalization of $1.092 billion, is trading at $16.87 rising by 0.91% in the last 24 hours. At $176.4 million, NEO’s daily trade volume is similar yesterday’s.

Although NEO is not the standout performer in the market today, with an upward movement that can be regarded as fairly good at best, NEO’s progress report shows that it has been making remarkable strides in achieving its proposed smart economy for the future.

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